Nov 13 (Reuters) – ICE cotton futures edged lower on Monday
in light trade, ahead of crop progress data from the U.S.
Department of Agriculture (USDA) due later in the day.
Cotton contracts for March settled down 0.21 cent, or
0.30 percent, at 68.93 cents per lb. It traded within a range of
68.85 and 69.63 cents a lb. It recorded its third consecutive
weekly gain on Friday.
“(The market) is extremely quiet today and volumes are
extremely low. Options expired Friday and there seems to be very
little interest on either side,” said Rogers Varner, president
of Varner Brokerage in Cleveland, Mississippi.
On Friday, prices for the natural fiber rose, recording
their biggest one-day percentage gain in a week, supported by
buying amid December options expiry and mill fixations.
Total futures market volume rose by 5,920 to 49,288 lots.
Data showed total open interest fell 4,570 to 228,802 contracts
in the previous session.
Certificated cotton stocks <CERT-COT-STX> deliverable as of
Nov. 10 totaled 46,922 480-lb bales, unchanged from 46,922 in
the previous session.
The dollar index was up 0.10 percent. The Thomson
Reuters CoreCommodity CRB Index , which tracks 19
commodities, was down 0.10 percent.
(Reporting by Nithin Prasad in Bengaluru; Editing by Lisa